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SQX Resources Limited (AU:SQX)
ASX:SQX
Australian Market

SQX Resources Limited (SQX) AI Stock Analysis

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AU:SQX

SQX Resources Limited

(Sydney:SQX)

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Neutral 52 (OpenAI - 5.2)
Rating:52Neutral
Price Target:
AU$0.23
â–˛(65.71% Upside)
Overall score is held back primarily by weak financial performance (zero revenue in 2024–2025, ongoing losses, and negative operating/free cash flow), partially offset by a low-leverage balance sheet. Technicals are supportive (price above key moving averages and positive MACD) but are tempered by overbought RSI conditions. Valuation impact is neutral due to missing P/E and dividend yield.
Positive Factors
Low leverage balance sheet
A very low debt load gives the company greater financial flexibility over months to years, lowering fixed interest costs and reducing bankruptcy risk. For an exploration firm this supports ongoing programs and optionality to raise project or JV funding without heavy servicing constraints.
Improving free cash flow trend
An easing in free cash flow outflows signals progress toward tighter cost control or more efficient capital spending. If sustained, this reduces reliance on external financing, lengthens runway for exploration activities, and improves the company’s ability to advance projects or attract partners.
Smaller operating losses in 2025
A reduction in operating losses points to better expense management or focusing of activities. Over a multi-month horizon this trend can slow erosion of shareholders’ equity, improve metrics used by potential JV partners or investors, and increase the chance of moving toward a positive operating cadence.
Negative Factors
Zero revenue in 2024–2025
Lacking any revenue base leaves the company entirely dependent on financing or asset sales to fund operations. Over several months this undermines sustainability, limits reinvestment in exploration, and heightens execution risk if capital markets tighten or partner interest wanes.
Persistent negative operating and free cash flow
Ongoing negative operating and free cash flow reflects structural cash burn that requires recurring external funding. This creates dilution and constrains strategic flexibility, making it harder to scale exploration programs or respond to opportunities without frequent capital raises or farm‑outs.
Erosion of equity from 2023 to 2025
A shrinking equity base reduces the company’s financial buffer and borrowing capacity, raising long-term solvency risk if losses persist. For a resource explorer, reduced equity can impair ability to secure joint ventures, attract investors, or fund the next phase of project development without dilutive measures.

SQX Resources Limited (SQX) vs. iShares MSCI Australia ETF (EWA)

SQX Resources Limited Business Overview & Revenue Model

Company DescriptionSQX Resources Ltd. operates as an early-stage exploration company. It seeks to explore and develop the prospects. The company was founded on May 2, 2022 and is headquartered in Brisbane, Australia.
How the Company Makes MoneySQX Resources Limited generates revenue through the discovery and development of mineral deposits, which are then either mined by the company or sold to larger mining entities. The company may also enter into joint ventures or partnerships with other mining companies to leverage their expertise and share the financial burden of mining operations. Revenue streams include the sale of extracted minerals, royalties from partnerships or licensing agreements, and potentially, the sale of mining rights or exploration data to other interested parties. Key factors contributing to its earnings include the market demand and prices for the minerals it extracts, as well as its ability to efficiently manage exploration and extraction costs.

SQX Resources Limited Financial Statement Overview

Summary
Financials are pressured by an absent revenue base (revenue at zero in 2024–2025), persistent operating and net losses, and ongoing cash burn (negative operating and free cash flow). The key offset is a relatively strong balance sheet with very low leverage, though equity has been declining alongside losses.
Income Statement
18
Very Negative
Operating performance remains weak. Revenue fell to zero in 2024 and 2025 (annual), following modest revenue in 2023, while losses persisted each year (EBIT and net income negative across 2023–2025). With no current revenue base and continued operating losses, profitability and earnings quality are poor, though losses appear somewhat smaller in 2025 versus 2023.
Balance Sheet
62
Positive
The balance sheet is a relative strength. Leverage is very low (debt-to-equity near zero across periods, with debt small versus equity), and total assets are largely funded by equity. However, equity has declined from 2023 to 2025 alongside ongoing losses (negative return on equity), which is a key risk if losses continue.
Cash Flow
24
Negative
Cash generation is weak with operating cash flow negative in every year shown and free cash flow also negative, indicating continued cash burn. Free cash flow improved in 2025 versus 2024 (less negative), but the company still requires funding support absent a return to positive operating cash flow.
BreakdownTTMDec 2025Dec 2024Dec 2023
Income Statement
Total Revenue0.000.000.0025.18K
Gross Profit0.000.000.0025.18K
EBITDA-672.00―-886.00-1.25K
Net Income-811.00-977.00-756.00-1.44K
Balance Sheet
Total Assets2.33M2.33M3.31M3.96M
Cash, Cash Equivalents and Short-Term Investments1.50M1.50M2.18M2.97M
Total Debt3.96K3.96K18.22K0.00
Total Liabilities102.80K102.80K104.89K96.00K
Stockholders Equity2.23M2.23M3.21M3.87M
Cash Flow
Free Cash Flow-521.00-666.00-778.00-1.49K
Operating Cash Flow-487.00-631.00-577.00-527.00
Investing Cash Flow-32.00-35.00-201.00-965.24K
Financing Cash Flow-11.00-14.00-10.004.23M

SQX Resources Limited Technical Analysis

Technical Analysis Sentiment
Positive
Last Price0.14
Price Trends
50DMA
0.16
Positive
100DMA
0.15
Positive
200DMA
0.12
Positive
Market Momentum
MACD
0.02
Negative
RSI
73.09
Negative
STOCH
67.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:SQX, the sentiment is Positive. The current price of 0.14 is below the 20-day moving average (MA) of 0.17, below the 50-day MA of 0.16, and above the 200-day MA of 0.12, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 73.09 is Negative, neither overbought nor oversold. The STOCH value of 67.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:SQX.

SQX Resources Limited Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
61
Neutral
$10.43B7.12-0.05%2.87%2.86%-36.73%
52
Neutral
AU$13.89M―――――
47
Neutral
AU$5.98M-4.58-38.30%――61.60%
46
Neutral
AU$7.59M-14.31-38.56%――21.62%
45
Neutral
AU$23.58M-51.61――――
43
Neutral
AU$8.78M-0.63-78.12%――-349.06%
38
Underperform
AU$8.27M-5.00-26.98%――4.35%
* Basic Materials Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
AU:SQX
SQX Resources Limited
0.20
0.12
143.75%
AU:OKJ
Oakajee Corporation Ltd
0.08
0.07
730.00%
AU:KLR
Kaili Resources Limited
0.16
0.12
300.00%
AU:SLZ
Sultan Resources Ltd.
0.02
<0.01
50.00%
AU:AIV
ActivEX Limited
0.02
0.01
100.00%
AU:PRL
Province Resources Ltd
0.01
-0.03
-73.17%

SQX Resources Limited Corporate Events

SQX Resources Confirms Bonanza-Grade Gold at New US Projects and Bolsters Balance Sheet
Jan 30, 2026

SQX Resources has reported bonanza-grade gold assays from underground sampling at its newly acquired Red Bird Gold Project in Arizona, with results up to 49.2 g/t gold confirming and in some cases exceeding historical data, and reinforcing the potential for both bulk and selective mining approaches. Together with exceptional gold-silver grades previously announced at the Williams Project in Montana, the completion of an 80% acquisition of AM6 Pty Ltd and a A$2 million capital raising has strengthened SQX’s balance sheet and advanced its strategic push into premier US mining districts, positioning the company for an accelerated drilling program and the systematic advancement of its high-grade North American portfolio.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.24 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Confirms High-Grade Gold at Red Bird Ahead of Maiden Drilling
Jan 26, 2026

SQX Resources has reported high-grade surface chip channel gold assays from its Red Bird Gold Project in Arizona, including 11.5 metres at 3.0 grams per tonne gold with multiple higher-grade internal intervals, which corroborate historical sampling by Homestake Mining and support the interpretation of a potentially bulk-tonnage gold system. The new results, together with recent structural mapping that has identified visible coarse gold, strengthen confidence in the continuity and controls of mineralisation and are being incorporated into the design of an approximately 2,500-metre reverse circulation drilling program scheduled to begin shortly, thereby materially de-risking the project and advancing it toward its maiden drill test.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.20 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Sets February Deadline for Exercise of Listed Options
Jan 15, 2026

SQX Resources Limited has announced the impending expiry of its listed options (ASX: SQXO), which are exercisable at $0.30 per option into fully paid ordinary SQX shares on a one-for-one basis. The company has dispatched personalised expiry and exercise notices to all registered optionholders, reminding them that the options cease trading on 4 February 2026 and must be exercised with cleared funds by 5:00pm AEST on 10 February 2026 or they will lapse worthless; any shares issued on exercise will rank equally with existing stock and be quoted on the ASX, with the final number of exercised versus lapsed options to be reflected in subsequent ASX filings.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.17 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Director Increases Indirect Shareholding via On‑Market Purchase
Jan 12, 2026

SQX Resources Limited has disclosed a change in the indirect holdings of director Patric Michael Glovac, reflecting an on‑market purchase of additional fully paid ordinary shares through his associated entity, Murdoch Capital Pty Ltd. Following the transactions on 7 and 8 January 2026, Glovac’s indirect interest increased by 120,000 shares for a consideration of $17,650, bringing Murdoch Capital’s holding to 890,000 fully paid ordinary shares, while his performance rights, options held via Kcirtap Securities, and interests via GTT Global Opportunities Pty Ltd remain unchanged, modestly strengthening director alignment with shareholders through increased equity exposure.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Director Patric Glovac Increases Indirect Shareholding via On-Market Purchase
Jan 11, 2026

SQX Resources Limited has reported a change in the indirect interests of director Patric Michael Glovac following an on-market purchase of 120,000 fully paid ordinary shares for $17,650 through Murdoch Capital Pty Ltd as trustee of The Glovac S/Fund A/C. The transaction increases Glovac’s indirect holding in SQX Resources’ ordinary shares while leaving his existing performance rights, options held via associated entities, and other indirect interests unchanged, signaling continued director alignment with shareholders through a larger equity stake.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

Mining Projects Accelerator Ceases to Be Substantial Shareholder in SQX Resources
Jan 8, 2026

Mining Projects Accelerator Pty Ltd has notified SQX Resources Limited that it has ceased to be a substantial shareholder as of 7 January 2026. The change in status resulted from dilution following a share issue by SQX Resources, which reduced Mining Projects Accelerator’s voting interest by 2,695,700 shares, signalling a shift in the company’s ownership structure that may affect the influence of this former major holder on corporate decisions.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Issues 20 Million Shares to AM6 Shareholders
Jan 6, 2026

SQX Resources Limited has issued 20 million fully paid ordinary shares as consideration to the shareholders of AM6 Pty Ltd, expanding its share base through this equity-based transaction. The company stated that the shares were issued without a prospectus under relevant Corporations Act provisions, and confirmed it remains compliant with its financial reporting and continuous disclosure obligations, with no undisclosed information material to investors’ assessment of the company or its ordinary shares.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Issues 30 Million Unquoted Performance Rights Linked to AM6 Milestones
Jan 6, 2026

SQX Resources Limited, listed on the ASX under the code SQX, has issued 30 million unquoted performance rights tied to milestones related to its AM6 Projects, with the securities not intended to be quoted on the exchange. The move, effective 7 January 2026, forms part of a previously announced transaction structure and is likely designed to align incentives with project performance, signalling management’s focus on advancing the AM6 Projects while potentially diluting existing holders if milestones are achieved.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Seeks ASX Quotation for 20 Million New Shares
Jan 6, 2026

SQX Resources Limited has applied to the ASX for quotation of 20 million new ordinary fully paid shares, to be issued on 7 January 2026 under its existing capital management framework. The move expands the company’s listed securities base and signals an intention to increase liquidity and access to capital markets, with potential implications for existing shareholders through dilution and for the company’s funding capacity for future corporate or project activities.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Secures Drilling Permits for Maiden Red Bird Gold Campaign in Arizona
Jan 6, 2026

SQX Resources has secured final drilling permits from the US Bureau of Land Management for its Red Bird Gold Project in Arizona, enabling immediate commencement of road and drill pad construction and a maiden 2,500-metre reverse circulation drilling program this month. Partnering with contractor Midnight Sun Drilling, AM6 will test known high-grade gold structures and probe for extensions at depth and along strike, supported by recent structural mapping that identified visible coarse gold and LIDAR surveys of underground workings. These rapid, concurrent drilling and systematic sampling programs are aimed at accelerating definition of a maiden JORC resource and advancing SQX’s strategy to outline a potentially large-scale, open-pit bulk-tonnage gold deposit, marking a shift from project evaluation to active discovery with the prospect of sustained news flow for investors.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Secures 80% of High-Grade US Gold Projects with AM6 Acquisition
Jan 6, 2026

SQX Resources Limited has completed the acquisition of 80% of AM6 Pty Ltd, securing majority ownership of the high-grade Williams gold-silver project in Montana and the Red Bird gold project in Arizona, following shareholder approval, due diligence and regulatory consents. The deal, paid through a mix of shares, cash and milestone-based performance rights tied to drilling and resource definition outcomes, marks a strategic shift that deepens SQX’s exposure to North American precious metals and aligns incentives to deliver exploration success, while the appointment of experienced economic geologist Dr Julian Stephens as Executive Director is expected to strengthen the company’s technical, operational and investor-engagement capabilities as it advances these projects.

The most recent analyst rating on (AU:SQX) stock is a Hold with a A$0.14 price target. To see the full list of analyst forecasts on SQX Resources Limited stock, see the AU:SQX Stock Forecast page.

SQX Resources Limited Announces Director’s Interest Change
Dec 10, 2025

SQX Resources Limited has announced a change in the director’s interest notice, specifically involving Patric Michael Glovac. The change includes the acquisition of 2,966,667 options as director incentives, valued at $0.0747 per option, with no disposals reported. This adjustment in securities holdings reflects strategic moves in the company’s governance and could impact its market dynamics.

SQX Resources Limited Issues New Shares Without Disclosure
Dec 5, 2025

SQX Resources Limited, listed on the ASX under the ticker SQX, has issued 12,187,500 fully paid ordinary shares at a price of $0.10 per share. This issuance was conducted without a disclosure to investors under Part 6D.2 of the Corporations Act 2001. The company has confirmed compliance with the relevant provisions of the Corporations Act and assured that no information has been excluded from its continuous disclosure obligations.

SQX Resources Limited Issues 9 Million Unquoted Equity Options
Dec 5, 2025

SQX Resources Limited has announced the issuance of 9,000,000 unquoted equity securities in the form of options, exercisable at 15 cents each, with a three-year expiration from the issue date. This move is part of a previously announced transaction, indicating strategic financial maneuvers to potentially enhance liquidity or fund future operations, impacting the company’s financial structure and possibly its market positioning.

SQX Resources Limited Issues New Unquoted Equity Securities
Dec 5, 2025

SQX Resources Limited has announced the issuance of 13,333,333 unquoted equity securities in the form of options, exercisable at 15 cents each, with a maturity period of three years. This issuance is part of previously announced transactions and is not intended to be quoted on the ASX, potentially impacting the company’s financial strategy and stakeholder interests.

SQX Resources Limited Announces Quotation of New Securities on ASX
Dec 5, 2025

SQX Resources Limited announced the quotation of 12,187,500 ordinary fully paid securities on the Australian Securities Exchange (ASX) as of December 5, 2025. This move is part of previously announced transactions, potentially strengthening the company’s capital structure and enhancing its market position.

SQX Resources Limited Announces Proposed Securities Issue
Dec 3, 2025

SQX Resources Limited has announced a proposed issue of securities, specifically 9,000,000 options exercisable at 15 cents with a maturity of three years from the issue date, which is set for December 5, 2025. This move is part of a placement or other type of issue and could impact the company’s capital structure and market positioning, potentially affecting stakeholder interests.

SQX Resources Limited Unanimously Passes All AGM Resolutions
Nov 28, 2025

SQX Resources Limited recently held its Annual General Meeting where all resolutions on the agenda were unanimously passed. The resolutions included the adoption of the remuneration report, election of a director, approval of a 10% placement facility, ratification and approval of share issues for capital raising, and approval of options issuance to directors and the company secretary. These decisions reflect a strong consensus among stakeholders and are likely to support the company’s strategic initiatives and capital management efforts.

SQX Resources Reports High-Grade Gold and Silver Assays at Williams Project
Nov 17, 2025

SQX Resources Limited has reported exceptional assay results from its Williams gold and silver project in Montana, USA, highlighting the high-grade nature of the mineralization. The company has entered into an agreement to acquire 80% of AM6 Pty Ltd, which holds the Williams project, and these results validate the historical data, presenting significant opportunities for further high-grade discoveries.

SQX Resources Confirms High-Grade Gold at Red Bird Project
Nov 4, 2025

SQX Resources Limited has announced promising assay results from its Red Bird Gold Project in Arizona, revealing gold grades as high as 49.2 g/t. These results not only confirm but exceed historical data, supporting the company’s strategy to target potentially open pit-able bulk mineralization. The findings significantly de-risk the project and pave the way for a maiden drilling program scheduled for January 2026, which could enhance the company’s positioning in the gold mining sector.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jan 29, 2026